Policy Services Representative

Unified Life Insurance; Indianapolis (IN); On-site; USD 42,000 - 62,000; Full time

Job summary

Unified Life Insurance is seeking a Policy Service Representative in Indianapolis to handle service transactions for in-force annuity contracts and respond to client inquiries. The role involves researching and processing complex requests, communicating with agents, beneficiaries, trustees, and attorneys via multiple channels.

Key duties include reviewing withdrawals, 1035 exchanges, ownership changes, and annuitization queries, plus handling death claim distributions and related tax reporting

Qualifications

• Prefers Associate’s degree in Business or equivalent training or experience.
• 1-3 years’ experience in life insurance and/or annuities.
• Ability to learn quickly and understand complex systems.
• Organized, detail-oriented, and able to multi-task. Strong communication skills, including oral and written skills.
• Strong understanding of insurance and ability to analyze and understand tax income applications.

Responsibilities

• Reviews and processes incoming annuity policy service requests, including withdrawals, 1035 exchanges, beneficiary/ownership changes, and questions on contract provisions.
• Reviews, analyzes, and processes death claim distributions and responds to contract owners for inquiries via phone, fax, email, or written correspondence.
• Calculates taxable implications of financial transactions and supports reporting to comply with state and federal regulations; verifies forms 1099 or 5498 as needed.

Skills

Strong communication

Multi-tasking

Organizational skills

Attention to detail

Time management

Proficient with MS Word & Excel

Education

Associate’s degree in Business or equivalent training

Tools

MS Word

Excel

Job description

The Policy Service Representative is responsible for transactions related to service for in force annuity contracts, which may include all financial and non-financial transactions and death claims. The Representative may also perform limited research and analysis for requested transactions, respond to and communicate with outside annuity clients (agents, beneficiaries, trustees, attorneys, POA’s).

Main Accountabilities:

• Reviews and processes incoming annuity policy service requests which may include partial and full withdrawals, 1035
  Exchange transactions, beneficiary and ownership changes, questions regarding complex contract provisions or values,
  annuitization quotes and illustrations. Researches, responds, and/or processes tasks submitted by the Customer Service Call Center.
• Reviews, analyzes, and processes death claim distributions that may include establishing supplemental contracts, distributions
  under “stretch” processing, or lump sum distributions to single or multiple beneficiaries.
  Researches and responds to contract owners’ inquiries regarding their annuity contract by telephone, FAX, e-mail, and written
  correspondence.
• Calculates taxable implications of financial transactions and reporting as needed to comply with state and federal regulations.
  Verifies and makes corrections or additions to Forms 1099 or 5498 as needed.

Qualifications:

Prefers Associate’s degree in Business or equivalent training or experience

• Professional designations such as LOMA’s Associate Life Management Institute (ALMI), Associate Customer Service (ACS),
  Associate Annuity
• Products and Administration (AAPA) or Fellow Secure Retirement Institute (FSRI) preferred but not required
• 1-3 years’ experience in life insurance and/or annuities
• Ability to learn quickly and understand complex systems
• Organized, detail-oriented, and able to multi-task
  Strong communication skills, including oral and written skills
  Strong understanding of insurance and ability to analyze and understand tax income applications
  Ability to prioritize workflow, establish and meet deadlines, and manage multiple concurrent tasks
  Proficient computer skills including keyboarding and various software packages such as MS Word and Excel